New York, NY (January 3, 2012) – International Equipment Solutions, LLC (“IES”) announced today that it has named Stephen Andrews as its Chief Executive Officer. Mr. Andrews was previously President and Chief Executive Officer of Pettibone LLC, the parent company of fourteen diversified global industrial businesses.
IES, through its Paladin and Crenlo business units, is a global engineered equipment company serving the construction, agriculture, landscaping, infrastructure, recycling, demolition, mining and energy markets. IES is owned by KPS Capital Partners, LP, a private equity firm with over $2.7 billion of assets under management, which formed the company in September 2011.
Mr. Andrews said, "I am thrilled to lead International Equipments Solutions. IES’s acquisitions of Paladin and Crenlo are just the first steps in the creation of an international engineered equipment manufacturer with leading brands and a strong reputation for quality, durability, delivery, support and continual product innovation. I look forward to working with the Paladin and Crenlo associates to provide our customer base with world-class service, and to grow IES worldwide both organically and through acquisitions.”
Prior to joining Pettibone in 2007, Mr. Andrews spent thirteen years in various domestic and international positions with Hendrickson International. He is a graduate of the University of Michigan.
About International Equipment Solutions, LLC
International Equipment Solutions, LLC is a global engineered equipment company serving the construction, agriculture, landscaping, infrastructure, recycling, demolition, mining, and energy markets. IES operates through two primary business units: Paladin, a leading manufacturer of engineered attachment tools for operator-driven equipment, and Crenlo, a leading manufacturer of cab enclosures for operator-driven equipment as well as specialty electronic enclosures. IES’ customers include major OEMs, national rental fleet companies and hundreds of independent and OEM-aligned dealers. IES employs over 1,500 people and operates 14 manufacturing facilities in Iowa, Michigan, Minnesota, North Carolina, Ohio, Oregon, Tennessee, Wisconsin and Memmingen, Germany. For more information, please visit www.paladinbrands.com and www.crenlo.com.